On July 12, Global electrical connection products manufacturer nVent Electric announced that it has acquired TEXA Industries, a provider of advanced cooling technologies including industrial air conditioners and chillers.
TEXA Industries will operate within nVent’s Enclosures business segment, the company said in a news release. Financial terms were not disclosed.
“The acquisition of TEXA Industries and its highly complementary portfolio strengthens nVent’s position as a global systems provider,” nVent said in its news release. “TEXA Industries provides to help customers better solve for increasing heat loads when designing systems.”
Based in Italy, TEXA Industries is a leading European provider of industrial cooling applications, with approximately 90 employees.
“We are excited about the addition of TEXA Industries,” said Alexander van der Weide, nVent HOFFMAN General Manager and Vice President. “Combined with our expertise in liquid cooling, this acquisition strengthens nVent’s position and accelerates our ability to provide global cooling solutions in demanding environments, such as industrial automation and energy storage.”
The deal marks nVent’s first acquisition since April 3, when it announced it had entered into an agreement to acquire ECM Investors for $1.1 billion.